The objective of this paper is to create a gap between zakat on financial institutions and financial instruments held by the individuals. As zakat on financial institutions are already recognized by the financial and standard setting bodies but a new development especially for the underlying...

This paper seeks to provide a framework for addressing supervisory issues which impact operations and institutional development of Islamic banks. We argue against universal supervision or creating separate specialized supervisions, the approach in this paper uses the risk based supervisory...

The paper intends to contribute to the ongoing debate of whether group-lending policy are sustainable and able to achieve and maintain sound repayment performance, while serving poor borrowers without the support of third parties such as takaful operator. By aiding new features in better...

Regulation is crucial for many reasons. More important than that is to produce an effective regulatory framework. In this paper, we will find that the first step in this framework is the philosophical foundation of Islamic microfinance institution’s establishment that is formulated in their...

Purpose – The purpose of this paper is to discuss zakat for business entities, in this regards Islamic banking institutions. There is a debate on whether or not business entities are obliged to pay zakat. However a sort of consensus has been concluded that a business entities owned by Moslems...